G'day all!
What are the implications if GST-registered entity (entity 1) buys property from vendor (not GST-registered), settles and then another entity (2) (may be or may be not GST registered) settles on the same day? Does "entity 1" have to claim GST-pay GST? Does it have to give GST invoice on unconditional date to "entity 2"? Or only if "entity2" GST registered too? How would you structure price and GST in second contract - same way as you would when buying from non-GST registered vendor or differently?
Cheers and thank you in advance!
What are the implications if GST-registered entity (entity 1) buys property from vendor (not GST-registered), settles and then another entity (2) (may be or may be not GST registered) settles on the same day? Does "entity 1" have to claim GST-pay GST? Does it have to give GST invoice on unconditional date to "entity 2"? Or only if "entity2" GST registered too? How would you structure price and GST in second contract - same way as you would when buying from non-GST registered vendor or differently?
Cheers and thank you in advance!
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